The Voice of Public Citizen in Texas

Bank of America put on the spot about their new debit card fee

America is fed up and starting to make some noise about it. The rise of the Tea Party was about politics, this new 99% movement is about greed.

Thursday, I got an email about ABC News’ followed up on a story about the more than 150,000 people who signed Molly Katchpole’s (change.org) petition against Bank of America’s new $5 monthly fee to use a debit card.

The network tracked down CEO, Brian Moynihan, and forced him to respond to the petition.

The CEO was flustered and couldn’t give a coherent explanation — an embarrassing moment on national TV for the big bank (and the second night in a row that Molly’s petition was a featured story on the newscast).

Bank of America is feeling the pressure from consumers. The hope is that as more people speak out, Bank of America will be forced to cancel its new fee — and other banks will be too scared to create their own new fees.